 Poster: A snowHead
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Any one shed some light on why the Pound is taking such a beating off a very strong Canadian dollar? I remember an aside made that they dont matter as it makes very little difference but this time one year ago you received 2.3 Canadian for your shiny Pound, now its 1.87, by my reckoning I have lost not just a small amount due to exchange rates but nearly 1000 dollars!
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| Rossfra8 wrote: |
| Any one shed some light on why the Pound is taking such a beating off a very strong Canadian dollar? I remember an aside made that they dont matter as it makes very little difference but this time one year ago you received 2.3 Canadian for your shiny Pound, now its 1.87, by my reckoning I have lost not just a small amount due to exchange rates but nearly 1000 dollars! |
Could be worse, we are in the process of the emigration procedure to Vancouver 
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Damn, last week I leant some English friends $1000 and said they could pay me £500, I thought it was back to the 2:1 mark 
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You need to Login to know who's really who.
You need to Login to know who's really who.
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no where near unfortunately!! then I would have had another couple hundred
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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| Rossfra8 wrote: |
| Any one shed some light on why the Pound is taking such a beating off a very strong Canadian dollar? I remember an aside made that they dont matter as it makes very little difference but this time one year ago you received 2.3 Canadian for your shiny Pound, now its 1.87, by my reckoning I have lost not just a small amount due to exchange rates but nearly 1000 dollars! |
for the same reasons its taking a beating from other currencies.
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You'll need to Register first of course.
You'll need to Register first of course.
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Rossfra8, Interest rates were high and the UK was seen as a good place to keep money. Now interest rates have dropped and it now seems certain rates will drop further putting money tino the UK doesn't seem such a good idea?
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davidof, clever answer but if you dive away from your witty one liners and realise maybe I am not aware of the reasons-then you may be able to come up with an appropriate response in relation to the question posed. Thanks for being constructive. thefatcontroller, thanks for the response-your time for an explanation is appreciated-maybe davidof could learn a thing or two from it.
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It's more or less two things: interest rates and oil. UK interest rates are relatively high but are considered to have peaked and the general view is may drop 0.25 percent at next mtg of wise men. Canada is relatively oil rich (where as UK is no longer) and with oil at current high, in order to buy that oil, people have to pay in CAD (oil that until relatively recently it was economically not worthwhile to extract). Money/funds exiting sterling (a bit) + high cost of oil.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Rossfra8,
A few things are coming home to roast and the stewardship of the economy hasn't been all that. Plus of course, despite Brown boasting that we have had a good growth period, he spent it all...instead of trying to reduce debt, which any prudent chancellor would do......!!
So now, with a few factors like a credit squeeze and nervous banks, we have no room to manouvre...and the choices are inlation or reduce interest rates.
The country is demanding a reduction but at what cost...
Typical short-term Brownism. He had hoped this wouldn't come apart on his shift but when it surely will, it will have his sticky prints all over it.
What are the bets of him never getting voted in.....?
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| Rossfra8 wrote: |
| davidof, clever answer but if you dive away from your witty one liners and realise maybe I am not aware of the reasons-then you may be able to come up with an appropriate response in relation to the question posed. Thanks for being constructive. thefatcontroller, thanks for the response-your time for an explanation is appreciated-maybe davidof could learn a thing or two from it. |
Maybe you could learn to use the search function? there is a whole thread on this.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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I've got a shed load of Canadian Dollars that I didn't change back. Bought them at 2.25. 
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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davidof, for your information my search function does not work-it just throws every post back without a refined search-so how about your learn to have a little respect for those who might not have the same knowledge of the subject as you do. Spyderman, wish i'd thought of that! 
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| Rossfra8 wrote: |
| davidof, for your information my search function does not work-it just throws every post back without a refined search-so how about your learn to have a little respect for those who might not have the same knowledge of the subject as you do. Spyderman, wish i'd thought of that! |
go to Google.com (it is a search engine):
exchange rates site:snowheads.com
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You know it makes sense.
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Rossfra8, I think Davidof is referring to the discussion on this thread about Euro exchange rates: http://snowheads.com/ski-forum/viewtopic.php?t=33995
There's a bit on there about the Canadian dollar and general economics stuff about why Sterling is suffering on the Forex markets.
I'm concerned about the purchasing power of my pound too as I'm off to Banff at the end of Feb.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Im really anoyed, I thought about getting my money for my Canada trip back in September (when it was still $2+ for a £) but instead decided to put it off till i had earned the money (rather than raiding the savings)
Once it fell below 2 - 1 I kept holding off hopeing it would improve, now its a week to go till i fly to whistler and looking like i will be lucky to get 1.87 Im just glad that for the past year a lot of relitives have gone to canada, and I have been given their left over money, ended up with about $200. Had hoped that it would cover food/drink for my extra week before the course starts, but looks like it will now just cover the money lost by not buying in September.....
Off to the bank/postoffice/where ever has the best rate to go and get my money changed, just hope it will be enough to last the 3 months...
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